Lotte Chemical Precision, Q2 Operating Profit 17.1 Billion KRW... 58% Increase from Q1

Sales Expansion with Completion of Semiconductor Material Capacity Increase
75.3% Decrease Compared to Same Period Last Year

Lotte Fine Chemical announced on the 30th that it recorded consolidated sales of 422.1 billion KRW and an operating profit of 17.1 billion KRW in the second quarter of this year. This represents a decrease of 2.1% and 75.3%, respectively, compared to the previous year.

Compared to the previous quarter, sales increased by 5.7% and operating profit rose by 58.3%. Lotte Fine Chemical explained, "Despite a decrease in sales volume due to regular maintenance in the first half of the year, sales and profitability improved compared to the previous quarter due to expanded sales from the completion of semiconductor material capacity expansion."

Lotte Fine Chemical Quarterly Performance for the Past Year [Image Source=Lotte Fine Chemical]

Lotte Fine Chemical is expanding its investment in high value-added specialty businesses. In the first half of this year, it completed additional expansion of TMAC, the world's largest production scale raw material for semiconductor photoresist. This is to respond to the growing demand for semiconductors. The company also plans to complete additional expansion of plant-based pharmaceutical capsule material, the world's number one product in the pharmaceutical cellulose material market, by next year.

Lotte Fine Chemical is also accelerating its clean hydrogen ammonia business. Starting with the purchase of an ammonia transport ship in February and the first ammonia export in April, the company plans to secure a favorable position in power plant co-firing demand bids through various collaborations with domestic and international companies in the second half of the year, aiming to become Asia's clean ammonia hub.

Lotte Fine Chemical Major Investment Status [Image Source=Lotte Fine Chemical]

Kim Yong-seok, CEO of Lotte Fine Chemical, said, "In the first half of the year, high value-added products such as the expanded sales volume of TMAC, a raw material for semiconductor photoresist, led profitability despite regular maintenance." He added, "In the second half, performance improvement is expected due to improved market conditions for chlorine-based products and expanded sales of pharmaceutical cellulose materials." He also stated, "We will achieve concrete results in the clean ammonia business."

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